In This Story
Telomir Pharmaceuticals Inc. (TELO-5.74%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's focus on developing Telomir-1, a novel small molecule intended to extend telomere caps and combat oxidative stress, which is a key factor in aging and disease progression.
Telomir Pharmaceuticals reported a net loss of $16.5 million for the year ended December 31, 2024, compared to a net loss of $13.1 million in the previous year. The increase in loss is attributed to higher general and administrative expenses and expanded research and development activities.
The company raised approximately $6.9 million in 2024, primarily through its initial public offering and a stock purchase agreement with Starwood Trust. Cash and cash equivalents at the end of the year were approximately $1.3 million.
Research and development expenses increased to $2.2 million in 2024 from $1.6 million in 2023, reflecting the expansion of pre-clinical programs. General and administrative expenses rose significantly to $9.6 million from $0.6 million, primarily due to stock compensation expenses and increased payroll costs.
Telomir Pharmaceuticals continues to focus on advancing Telomir-1 through preclinical studies with plans to submit an Investigational New Drug application to the FDA in the second half of 2025.
The company acknowledges substantial doubt about its ability to continue as a going concern due to recurring losses and negative cash flows from operations. Management plans to seek additional financing to fund operations and future clinical trials.
Telomir Pharmaceuticals has a licensing agreement with MIRALOGX LLC for the U.S. patent rights to Telomir-1. The agreement includes an 8% royalty on net sales, with no upfront or milestone payments required.
The company has not generated any revenue from product sales to date and does not expect to do so until Telomir-1 receives regulatory approval and is commercialized.
Telomir Pharmaceuticals is exploring additional indications for Telomir-1, including potential applications in treating Wilson’s disease, Type 2 Diabetes, and age-related conditions.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Telomir Pharmaceuticals Inc. annual 10-K report dated February 4, 2025. To report an error, please email earnings@qz.com.